This bill introduces a mechanism that allows property owners to opt out of contributing to locally adopted property tax credits or exemptions. Property owners can exercise this option by completing and submitting form PA-29 annually by April 15th. However, it is important to note that property owners who are currently receiving any locally adopted tax credits or exemptions are not eligible to opt out.

The bill amends RSA 72:27-a by adding a new paragraph that outlines this opt-out procedure, specifically stating that property owners must check the appropriate box on the form to indicate their choice. The legislation will take effect 60 days after its passage.

Statutes affected:
Introduced: 72:27-a
HB1400 text: 72:27-a